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Nov 23, 2012
11/12
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cutting the deficit to changing the tax code to creating jobs. can that happen and will that happen? we'll look ahead special edition of on the record. >> folks, what is going to happen in the next four years if obama is true to form? that is the problem. mechanism for recovery isn't going to be there. >> 2013 should be the year we begin to solve our debt through tax reform and entitlement reform. i'm proposing it will be off the fiscal cliff together that 2013 is finally the year that our government comes to grips with the major problems that are facing us. >> the issues we talked about, seven days ago are still the issues we still have to deal with today. the economy, a debt crisis. healthcare system problem. these problems exist. we'll have to find a way to find common ground. >> president is focused on the work that we have to do right now to help our economy grow and help our economy create jobs. it's to move the country forward economically. >> right now our economy is still recovering from a very deep and damaging crisis. our top priority
cutting the deficit to changing the tax code to creating jobs. can that happen and will that happen? we'll look ahead special edition of on the record. >> folks, what is going to happen in the next four years if obama is true to form? that is the problem. mechanism for recovery isn't going to be there. >> 2013 should be the year we begin to solve our debt through tax reform and entitlement reform. i'm proposing it will be off the fiscal cliff together that 2013 is finally the year...
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Nov 28, 2012
11/12
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. >> social security does not add one penny to the deficit. it's an important program, critical program. take care of it in the future and do it separate from the debt debate. >> i think most would agree that social security is not responsible for the deficit. clearly shouldn't be on the table for discussion. >> that might be true if lawmakers hadn't already borrowed and spent all the program surplus revenues from years past, which by law congress now has to pay back. adding to the deficit. >> the money came in. congress spent it. look here, we have money to spend. let's go ahead and spend it up. there it went. it's gone. >> social security now needs to start getting the money back again adds to the deficit. just this year alone, the social security trustees' report that "in 2012, the projected difference between social security's dedicated tax income and expenditures is $165 billion." part of the $165 billion added to the deficit, $112 billion of it is a result of the payroll tax cut that president obama pushed through, which by law congress
. >> social security does not add one penny to the deficit. it's an important program, critical program. take care of it in the future and do it separate from the debt debate. >> i think most would agree that social security is not responsible for the deficit. clearly shouldn't be on the table for discussion. >> that might be true if lawmakers hadn't already borrowed and spent all the program surplus revenues from years past, which by law congress now has to pay back. adding...
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Nov 28, 2012
11/12
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martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we sa
martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and...
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Nov 27, 2012
11/12
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the campaign promise is to cut the deficit in half. he said he would do it by focusing at the center of his proposal, going to be entitlement reform. we have seen none of that. more than four years. >> bret: interesting op-ed by bill archer and chris cox in "wall street journal" saying that the real outlay is $86 trillion of unfunded liabilities. obligations when you include all of the federal government, what it owes. that is obviously dwarfs the $16 trillion in debt we hold. >> which raises the question why are republicans allowing the entire debate to be about taxes? and about the war among republicans over holding the line on the norquist pledge or not. when what obama is proposing on raising the rates on the 2% is a triviality. it will reduce the deficit from $11.01 trillion to $1. $1.02 trillion. eight cents on the dollar. nothing. lunch money. it's rounding error. yet that is all the debate we are hearing. obama understands this. he is trying to, he is not trying to fix our fiscal issues and problems. he's trying to destroy the
the campaign promise is to cut the deficit in half. he said he would do it by focusing at the center of his proposal, going to be entitlement reform. we have seen none of that. more than four years. >> bret: interesting op-ed by bill archer and chris cox in "wall street journal" saying that the real outlay is $86 trillion of unfunded liabilities. obligations when you include all of the federal government, what it owes. that is obviously dwarfs the $16 trillion in debt we hold....
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Nov 28, 2012
11/12
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FOXNEWSW
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we have a $1.2 billion deficit. one of the things i'm hearing from my republican sources over the last few days is they say the president isn't talking about spending cuts. wasn't it interesting in his remarks today i don't think the president mentioned cutting spending one time. so the republicans are saying wait a minute all the president wants to do is raise these taxes on small businesses and i vesters and quote rich people. on the other hand he's not putting on the table any reductions in spending or entitlements. and i think we all know, whether you're a democrat, republican, independent we have to start chopping these programs and reforming them or we will surrender to an ocean of debt. jenna: when does that moment of reckoning come? is it here now? that's the big question? >> i don't think it's here now. i think the window is khroeusing and i think there is a lot of frustration that we can't seem to come to an agreement. just one example, jenna, the president in the negotiations has said well social security
we have a $1.2 billion deficit. one of the things i'm hearing from my republican sources over the last few days is they say the president isn't talking about spending cuts. wasn't it interesting in his remarks today i don't think the president mentioned cutting spending one time. so the republicans are saying wait a minute all the president wants to do is raise these taxes on small businesses and i vesters and quote rich people. on the other hand he's not putting on the table any reductions in...
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Nov 22, 2012
11/12
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that is why we've had trillions of dollars in trade deficits with china. managers of the trade policy with china, democrats and republicans, i think are guilty of real political malpractice on a large scale. >> greta: what is the chinese viewpoint of what they're doing vis-a-vis north korea? >> almost any country, chinese goes back than our memory. because of the great war, many of the invasions of china have come by bypassing the great wall, along north korea. and... also, the japanese intend to conquer asiana started in korea. so china, korea is an extremely sensitive point. what i think the chinese would like best is an outcome would be a nonnuclear, peaceful, north korea. they would not want a unified korea because it would seem that the high-tech korea and yellow ribbon with modern weapons would resurrect his storeal cal threats in their minds. also for them, the korean war as the image they thought as a symbolic significance. they took on the united states when they were very weak and came out from their point of view, achieving their effectiveness.
that is why we've had trillions of dollars in trade deficits with china. managers of the trade policy with china, democrats and republicans, i think are guilty of real political malpractice on a large scale. >> greta: what is the chinese viewpoint of what they're doing vis-a-vis north korea? >> almost any country, chinese goes back than our memory. because of the great war, many of the invasions of china have come by bypassing the great wall, along north korea. and... also, the...
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Nov 28, 2012
11/12
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it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way. including asking the wealthiest americans to pay a little more. >>reporter: the president said he would be willing to have a framework in the short-term for spending cuts neck year but republicans likes speaker boehner are saying if you split all this up and only do the tax side and wait on the spend cuts until next year republicans are skeptical the spending cuts will ever actually materialize. this is all very critical because earlier today, erskine bowles, a budget expert who has become an influential figure, said he thinks that there is a two out of three chance that we are going to fall off the fiscal cliff it is a high probability. >>neil: gephardt think it is a possibility to kick the can down for three, six months, and let all of the cuts, delay the cuts, and delaney dressing on the rates for at least that long. how likely is that? >>reporter: it is something that the republicans would like to see so maybe they can fig
it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way. including asking the wealthiest americans to pay a little more. >>reporter: the president said he would be willing to have a framework in the short-term for spending cuts neck year but republicans likes speaker boehner are saying if you split all this up and only do the tax side and wait on the spend cuts until next year...
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Nov 27, 2012
11/12
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that is not the federal budget deficit you're looking at. the powerball jackpot reaches $425 million. the latest on the big drawing just ahead. jenna: now we turn to the latest on the new health care law. the supreme court ordering the fourth circuit court of appeals to take a second look at liberty university's challenge of the health care law. the christian school believes americans should not be required to purchase health insurance and employers should not be forced to provide it if there are religious objections to certain provisions like birth control that are part of the health care they're providing. the move could open the door for president obama's health care law to be backed before the supreme court late next year. david rifkin is a constitutional law attorney and former white house counsel under presidents reagan and george h.w. bush. nice to have you with us today. >> good to be with you. jenna: how strong is liberty's case here? >> well, first of all it is entirely appropriate and expected the case would go forward give the fa
that is not the federal budget deficit you're looking at. the powerball jackpot reaches $425 million. the latest on the big drawing just ahead. jenna: now we turn to the latest on the new health care law. the supreme court ordering the fourth circuit court of appeals to take a second look at liberty university's challenge of the health care law. the christian school believes americans should not be required to purchase health insurance and employers should not be forced to provide it if there...
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Nov 27, 2012
11/12
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CSPAN
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we also have an infrastructure deficit and education and skills training deficit. we want to get back on track and address that issue. they will have a paycheck and their families will be able to have food on the table. i think this showed us that we can work in a bipartisan way. i hope that we can do that moving forward now to address the number one issue for every family. jobs. >> why would this be more successful in addressing taxes or entitlement program when the by in group for the -- >> the answer is pretty obvious. hanging over the head of the joint committee is this trigger that is pretty drastic. >> are there things to keep this from happening again? is there a chance that the house caucus once again will say, we are t going to support a debt ceiling increase after 2013. >> i think this sets the tone for what happens in the future and think the trigger kicks in. of course, they will take places in between that and 2013. >> the extension, by the end of the day, would you be head to head? >> we have 80,000 jobs on the line. we started construction about two
we also have an infrastructure deficit and education and skills training deficit. we want to get back on track and address that issue. they will have a paycheck and their families will be able to have food on the table. i think this showed us that we can work in a bipartisan way. i hope that we can do that moving forward now to address the number one issue for every family. jobs. >> why would this be more successful in addressing taxes or entitlement program when the by in group for the...
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Nov 26, 2012
11/12
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does it all go to the deficit, or to the debt? >> no. megyn: because we, a lot of americans think, all right, i want to help my fellow citizens and i don't like this national debt but you know who i don't want to help? i don't want to have jeff neely to have another trip to the hot tub and drink his red wine. >> forgotten about him. megyn: the feds shown propensity for misspending the people's money. >> well, think about this. we're talking about, we have a government that runs a trillion dollar deficit every year. that borrows more than three cents of every dollar it spends. here we're talking about a deal that would be 1.6 trillion over 10 years. talking about $160 billion a year. it is just, just littlest scratch in the surface when you talk about long-term debt and different sits. this is being made out to be a big deal but this money will get you can ised pretty fast. megyn: look at the fight we have over just that. can you imagine the fight we would have if we really tried to tackle the $16 trillion debt? chris, great to see you. >
does it all go to the deficit, or to the debt? >> no. megyn: because we, a lot of americans think, all right, i want to help my fellow citizens and i don't like this national debt but you know who i don't want to help? i don't want to have jeff neely to have another trip to the hot tub and drink his red wine. >> forgotten about him. megyn: the feds shown propensity for misspending the people's money. >> well, think about this. we're talking about, we have a government that...
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Nov 24, 2012
11/12
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FOXNEWSW
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that is why we've had trillions of dollars in trade deficits with china. managers of the trade policy with china, democrats and republicans, i think are guilty of real political malpractice on a large scale. >> greta: what is the chinese viewpoint of what they're doing vis-a-vis north korea? >> almost any country, chinese goes back than our memory. because of the great war, many of the invasions of china have come by bypassing the great wall, along north korea. and... also, the japanese intend to conquer asiana started in korea. so china, korea is an extremely sensitive point. what i think the chinese would like best is an outcome would be a nonnuclear, peaceful, north korea. they would not want a unified korea because it would seem that the high-tech korea and yellow ribbon with modern weapons would resurrect his storeal cal threats in their minds. also for them, the korean war as the image they thought as a symbolic significance. they took on the united states when they were very weak and came out from their point of view, achieving their effectiveness.
that is why we've had trillions of dollars in trade deficits with china. managers of the trade policy with china, democrats and republicans, i think are guilty of real political malpractice on a large scale. >> greta: what is the chinese viewpoint of what they're doing vis-a-vis north korea? >> almost any country, chinese goes back than our memory. because of the great war, many of the invasions of china have come by bypassing the great wall, along north korea. and... also, the...
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Nov 24, 2012
11/12
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FBC
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it is a deficit. with 2.5 trillion dollars tos tr work with. billion nex $901 billion for next year.tiont the national debt is over $16 trillion.$1 and the president's big plan cember has 1.6 trillion dollars.h first you want to raise 849 billion. over 10 years by allowing the bush tax cuts to go away this year. those with $849 billionhundred n including $206 billion.lion on i two itemized deduction.n apital higher taxes on capital gains and the white house wants to raise $584 billion aver 10 years.thev by reducing the value of tax c breaks with a charitable m contributions, mortgage payments that could have an impact on the housing industry. we have some thain going good now so let's stop that. the rest comes from raising taxes on energy companies and brokers and traders. over a decade bricks down $160 billion each year that still leaves a hole of the hundred $40 billion. he so you're looking at alionde $100 trillion deficit the president was to demonize the bushhe tax cuts but thewill. tax revenue is already increasing under the bushes. rates
it is a deficit. with 2.5 trillion dollars tos tr work with. billion nex $901 billion for next year.tiont the national debt is over $16 trillion.$1 and the president's big plan cember has 1.6 trillion dollars.h first you want to raise 849 billion. over 10 years by allowing the bush tax cuts to go away this year. those with $849 billionhundred n including $206 billion.lion on i two itemized deduction.n apital higher taxes on capital gains and the white house wants to raise $584 billion aver 10...
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Nov 24, 2012
11/12
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FOXNEWSW
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that's why we've had trillions and trillions in trade deficits with china. the managers of american's trade policy with china in the last two decades, democrats and republicans, i think are guilty of real political malpractice on a colossal scale. >> what is the chinese view point of what they are doing vis-a-vis north korea? >> you know on almost any problem the chinese memory goes back longer than our memory. because of the great war many of the invasions of china have come by bypassing the great wall along the yellow and north korea, and also, the japanese attempt to conquer asia started in korea. china, korea, is an extremely sensitive point. what i think the chinese would like best as an outcome would be a nonnuclear peaceful north korea. they would not want a unified korea, because they would think that a high-tech korea at the yellow river with modern weapons, would resurrect historical threats in their mind many also korean war has the image, has symbolic significant this sense it was, they took on the united states when they were very weak and came
that's why we've had trillions and trillions in trade deficits with china. the managers of american's trade policy with china in the last two decades, democrats and republicans, i think are guilty of real political malpractice on a colossal scale. >> what is the chinese view point of what they are doing vis-a-vis north korea? >> you know on almost any problem the chinese memory goes back longer than our memory. because of the great war many of the invasions of china have come by...
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Nov 28, 2012
11/12
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. >> we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has from time to time indicated an openness to that. now is the time to actually do it. >> 42 business groups sent a letter to leaders of congress asking them to do tax reform to lower tax rates and also address entitlement reforms. >> shepard: democrats say they want more revenue, more taxes here. what about entitlement changes? >> well, any time you start talking about tweaking these programs, there are groups in washington around the country that mobilize to try and stop cuts. the number two senate democrat, dick durbin, says he'd be open to look at entitlements, but not part of the fiscal cliff talks. here is the senate majority leader's view. >> at the meeting we had that i mentioned with president and the four leaders, president obama said that social security is not part of what is what we're going to do in this. i agree with him. and there are things that i personally believe there are things that we can do w
. >> we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has from time to time indicated an openness to that. now is the time to actually do it. >> 42 business groups sent a letter to leaders of congress asking them to do tax reform to lower tax rates and also address entitlement reforms. >> shepard: democrats say they want more revenue, more taxes here....
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Nov 21, 2012
11/12
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KRCB
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last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by dtination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo foreign exchange, the dollar is gaining ground against the yen hitting the highest level in just about seven months. dollar yen is currently changing hands at 81.84 to 88 taking a look at the euro/yen, that is also at a six-month high. euro/yen 104.87 to 88. sources say many currency traders expect the bank of japan to deliver mormon tear easing because the central bank gave a cautious outlook for the japanese economy. let's get a check on stocks. japanese share prices are trading higher on the weaker yen this morning. the nikkei average currently 9,218, a gain of over 8/10 of a percent f
last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by dtination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo...
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Nov 21, 2012
11/12
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KCSMMHZ
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the deficit came in at $6.7 billion. exports fell by 6.5% from a year earlier. exports have fallen five months in a row. cars and steel led the drop and imports fell by 1.6% from a year earlier. exports to europe tumbled more than 20%. the debt crisis has dampened demand. exports to china fell more than 11%. consumers upset about the material -- territorial dispute are shying away from japanese goods. >>> serieses say the settlement body upheld most of the -- wto officials sent a final report to the parties involved. the document advises ontario to rer rectify the issue. the wto says the -- canadian officials may appeal the decision. >>> tokyo stock exchange officials are calling on small businesses in south korea to list their shares on the tokyo boards. the tse made the promotion in a seminar in seoul on wednesday. the event was held by an organization that helps enterprises to raise funds and enter foreign markets. more than 200 south korean companies including those from the information technology sector took part. officials from the tse said investors in to
the deficit came in at $6.7 billion. exports fell by 6.5% from a year earlier. exports have fallen five months in a row. cars and steel led the drop and imports fell by 1.6% from a year earlier. exports to europe tumbled more than 20%. the debt crisis has dampened demand. exports to china fell more than 11%. consumers upset about the material -- territorial dispute are shying away from japanese goods. >>> serieses say the settlement body upheld most of the -- wto officials sent a final...
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Nov 24, 2012
11/12
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FBC
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he forecasted a $1.3 trillion deficit. th so that means, if i can figure this out, $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion left for next year. our national deficit iss big pl $16 trillion. everybody knows that. the president's bignt plans, he just wants $1.6 trillion in new taxes.t here is how he wants to get there. first he wants to raise 849 billion. by allowing the bush tax cuts -y there they go. taking him away.f the very first of december of this year. incom incomes of more than $250,000, 849 billion includes 206 billion in higher taxes on dividends. $123 billion on limiting i'm itemized deductions.pital higher taxes on capital gains. then they want to raise another$ $534 billion over 10 years.ten b excuse me,y over two years, by using tax rates.e mortgage payments and -- oh, by the way, that might have ane evr impact on the housing industryby and that could get everybody excited. we have something good going, so mones squash that. the rest would come from raising taxes on commodity traders,
he forecasted a $1.3 trillion deficit. th so that means, if i can figure this out, $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion left for next year. our national deficit iss big pl $16 trillion. everybody knows that. the president's bignt plans, he just wants $1.6 trillion in new taxes.t here is how he wants to get there. first he wants to raise 849 billion. by allowing the bush tax cuts -y there they go. taking him away.f the very first of december of this year. incom...
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Nov 26, 2012
11/12
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FBC
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. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't need to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849 billion, includes $206 billion, of higher taxes on dividends. $123 billion, on limiting itemized deductions. $36 billion, higher taxes on capital gains. and, next, the white house want to raise another $584 billion, over ten years... $584 billion, of that, over ten years by reducing the value of certain tax breaks, cutting tax breaks related to charitable contributions and, by the way it may have an impact on the housing industry and that should get everybody a little excited. we have something good going here as the saying goes now, in the housing industry and let's quash that. the rest of the
. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't need to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849...
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Nov 25, 2012
11/12
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CSPAN2
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what would have happened if we hadn't allowed the deficit to increase and when you try to tear -- do the herbert hoover kind of policy slash, cut back expenditures and revenue went down. we did that experiment. the ecb and europe have been forcing out on greece. we saw two things about that. one, it was led to historic oppression and the other was the deficit doesn't get down as much as anybody hopes. i am surprised that they are surprised. because it was perfectly anticipated that they would fail. >> thank you for the opportunity for asking this question. my question is on a different topic, but it relates to the kind of economic ideas that some u.s. groups have been promoting abroad. i'm an international student from georgia and the summer i went back and went to an economics camp which surprisingly was funded by the tea party organization and they were promoting libertarianism among georgia students. there has been an emergence of orthodox economists back home, which has led to deregulation, less taxes but also an increase of inequality. so my question is, how do you discuss alter
what would have happened if we hadn't allowed the deficit to increase and when you try to tear -- do the herbert hoover kind of policy slash, cut back expenditures and revenue went down. we did that experiment. the ecb and europe have been forcing out on greece. we saw two things about that. one, it was led to historic oppression and the other was the deficit doesn't get down as much as anybody hopes. i am surprised that they are surprised. because it was perfectly anticipated that they would...
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Nov 25, 2012
11/12
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it gives the persistent trade deficit. we used to not have one and now we do, and it is a big drag on the economy. the trade deficit is significantly down. we have had some -- the u.s. has actually become more competitive, but that's a front on which we need to work. there is a -- the trouble is the political debate has not kept up with the reality. at it all about china. actually, china is no longer the core of that. it's a much broader set of countries. those need to be work on. i hope the next president, instead of not just crude china bashing but what to do to have a world that is no -- we don't have everybody trying to run a trade surplus, which the germans believe is possible but the rest of us don't. then the issue of trade and income inequality, and a lot of -- used to be we traded with countries that were similar. and that presumably had relatively effect on income. if you make -- if you send auto parts to canada and conditioned sends assembled cars back to the ute, that knowing going to make a difference. that it
it gives the persistent trade deficit. we used to not have one and now we do, and it is a big drag on the economy. the trade deficit is significantly down. we have had some -- the u.s. has actually become more competitive, but that's a front on which we need to work. there is a -- the trouble is the political debate has not kept up with the reality. at it all about china. actually, china is no longer the core of that. it's a much broader set of countries. those need to be work on. i hope the...
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Nov 27, 2012
11/12
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CSPAN
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not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do that. they failed to end the medicare guaranteed. they failed to slash medicaid, education. in this measure, we succeeded in protecting medicare and social security beneficiaries. we succeeded in protecting seniors in nursing homes, individuals with disabilities, and poor kids who depend on medicaid for their health care. we succeeded in providing room for critical investments in education and america's future. do not get the wrong, mr. speaker. there is much in this plan i do not like. we did not succeed in shutting down s
not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do...
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Nov 29, 2012
11/12
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[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after world war ii. outside of the post-world war ii era, the on than the up deficit has fallen faster is when the economy we left in 1937, during the great depression into -- [inaudible] u.s. district offers, testing the speed limit of the fiscal consolidation does and backfire. >> i really go back to simpson-bowles. i think they had it right put. repeat, everything on the table. not only taxes, but spending cuts and entitlement reform. let me speak about each of them. first when it comes to revenue, so many people in the business community and outside have talked about simpson-bowl
[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after...
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Nov 26, 2012
11/12
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CNBC
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they're gathering in brussels to try to hammer out a deal on the greek deficit. prime minister says they're cle. politicians are considering a debt forgiveness program but could see talso reaching agreement on a framework for the planned eurozone banking union. speaking to the ft, the eu internal markets commissioner said ministers must meet a december deadline in order to placate financial markets. and this as in spain voters in cat take loan i can't giving a victory to the separatist party, but the region's president lost ground. so what does it mean for the push for independence and the deficit reduction plans? julia is in barcelona for us. what does it all mean? >> it's being seen as broadly positive because it weekens his push for independence in the region right now. but the overriding message is that two thirds of the people that voted here voted for pro nationalist or separationist parties here. and this is a sentiment that's been growing over a number of years. and the president has to try to align himselves with other parties bearing two key facts, wher
they're gathering in brussels to try to hammer out a deal on the greek deficit. prime minister says they're cle. politicians are considering a debt forgiveness program but could see talso reaching agreement on a framework for the planned eurozone banking union. speaking to the ft, the eu internal markets commissioner said ministers must meet a december deadline in order to placate financial markets. and this as in spain voters in cat take loan i can't giving a victory to the separatist party,...
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Nov 26, 2012
11/12
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>> steve: states can't deficit finance. but by statute, our federal government can. that's why we're $16 trillion in the hole. >> brian: when you are tired about talk being this country, let's talk about another. a stunning announcement out of israel, ehud barak calling it quits. leeland vittert got that news and is here to tell us what it's like inside jerusalem with that big news. what's the story? how is this playing? >> brian, shocking but not all that surprising. ehud barak is trying to go out on a good note. over the past couple of years, not that politically popular. did very well last week in the latest gaza war. got a popularity boost in the polls. time to move on. not only is he the former defense minister, but former prime minister. but as of late had not been doing that well politically. looked like he was not going to get a loft votes on january 22. so he bows out. he says i'm gog retire from public life now for the second time, which we'll see if it happens. this time. what's interesting, he's israel's most decorated soldier and successful defense minis
>> steve: states can't deficit finance. but by statute, our federal government can. that's why we're $16 trillion in the hole. >> brian: when you are tired about talk being this country, let's talk about another. a stunning announcement out of israel, ehud barak calling it quits. leeland vittert got that news and is here to tell us what it's like inside jerusalem with that big news. what's the story? how is this playing? >> brian, shocking but not all that surprising. ehud...
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Nov 29, 2012
11/12
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CSPAN
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we had a significant deficit. but the long term looked possible if we could solve the sshort-term problems. that was easier. in 1990, the parties were competitive, but they were not polarized. in those days, the bad guys were the opposition. today, they are the enemy. there is a world of difference between those two words. yes, we had some distrust. also, we had the ability to work with each other and believe each other and it made life easier at that time. there were other divisions in the congress. the party polarization today tends to make it republicans versus democrats all the way. there were other sub factions in those days. the budgeteers verses the appropriators, etc., that cut across some of those party lines. the most important difference, in my judgment, is that there was less outside pressure upon the negotiators from the radio and tv extremists, lobbyists, core constituencies, users of social media, etc. mostl they did not get 500 e-mails every minute in their office. they did not have people featurin
we had a significant deficit. but the long term looked possible if we could solve the sshort-term problems. that was easier. in 1990, the parties were competitive, but they were not polarized. in those days, the bad guys were the opposition. today, they are the enemy. there is a world of difference between those two words. yes, we had some distrust. also, we had the ability to work with each other and believe each other and it made life easier at that time. there were other divisions in the...
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Nov 22, 2012
11/12
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CSPAN2
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bond yields will rise in the cost of financing current deficits will increase. there won't be much cash available to move into government investments for the future. the bridges research in the basic sciences, public schools better equipped for the 21st century and so on. it will mean less spending on technology, less capital available to current listing companies and less capital for ashburn or second to go public on our market. the decline in american ingenuity would be a consequence and over time would be a decline of our position in the world. as all prices adjust, market forces could reach a point where investors refuse to buy u.s. treasury bonds. we see investors to the potential of the realizations now to risk. in 2007, over $1 trillion have flowed in to bomb an even greater amount out of the lease. a lack of clarity, on equity capital gains and dividends act as a deterrent or equity investment. when trying dollars moving into fixed income were fixed income is basically pain zero. that shows a fundamental aversion to risk, which is new to our society and
bond yields will rise in the cost of financing current deficits will increase. there won't be much cash available to move into government investments for the future. the bridges research in the basic sciences, public schools better equipped for the 21st century and so on. it will mean less spending on technology, less capital available to current listing companies and less capital for ashburn or second to go public on our market. the decline in american ingenuity would be a consequence and over...
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the financial times ranks each country with the same criteria applied to ministers including budget deficit government debt and unemployment rates now or which saudi arabia topped the ranking with one of the los levels of state debt accounting for seven point five percent of g.d.p. followed by russia with the public that at about nine point six percent of the nation's g.d.p. for the economy has grown four percent with an unemployment rate just above five percent china to third place with official state debt levels about twenty percent of g.d.p. jacob now from morgan stanley believes russia isn't a good position when compared to the developed world. around the world in the developed markets you have budget deficits of five to ten percent in most countries and you have g.d.p. ratios at seventy eighty ninety percent of g.d.p. and even higher in russia you have. under ten and the government has about twenty five percent of g.d.p. so from the all from. creditor to the rest of the world and it's running a surplus at the moment so russia looks in a much better position from a budget point of view
the financial times ranks each country with the same criteria applied to ministers including budget deficit government debt and unemployment rates now or which saudi arabia topped the ranking with one of the los levels of state debt accounting for seven point five percent of g.d.p. followed by russia with the public that at about nine point six percent of the nation's g.d.p. for the economy has grown four percent with an unemployment rate just above five percent china to third place with...
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Nov 26, 2012
11/12
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the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first because i know it is a real strategic dilemma for nations that are engaged primarily economically with china, because there always has to be a human rights imperative. it is either the elephant in the room or is the challenge to getting into the agreements you want to be in. that the said, there are 400 or 500 million chinese living on the same per capita income as nigeria with $2 a day. that is always a real concern for the chinese and a one-party state where the military and internal security forces are also party entities. a real challenge. i want to touch on the question about o
the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first...
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Nov 26, 2012
11/12
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specific changes to these entitlement programs which both sides will agree are the major drivers of the deficit and debt. listen, if you raise taxes as the administration wants to do now, you don't, in other words, extend the bush-era tax cuts, you raise $824 billion over ten years. now the u.s. government is funded, it takes $1.3 billion a day to fund the u.s. government. so you divide all of that, do the math, carry the knot and basically you qui get about 65 days of funding of the u.s. government just on the taxes. it doesn't get you too far on the big picture. jon: i've heard some democrats saying maybe it won't be such a bad thing to let the country go over the fiscal cliff at lowe's for a short period of time. >> reporter: that is one negotiation ploy, i think you're hearing that as well, you know, if you go past that deadline, then the new congress could come back and retroactively essentially give them -- everyone a tax cut, so those new congressmen and women, and senators will be able to say that they had a tax cut. it's all semantics here. the bottom line is what the president will br
specific changes to these entitlement programs which both sides will agree are the major drivers of the deficit and debt. listen, if you raise taxes as the administration wants to do now, you don't, in other words, extend the bush-era tax cuts, you raise $824 billion over ten years. now the u.s. government is funded, it takes $1.3 billion a day to fund the u.s. government. so you divide all of that, do the math, carry the knot and basically you qui get about 65 days of funding of the u.s....
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Nov 27, 2012
11/12
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it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the senate and house. i might add a wrinkle here that senator mark warner came up with that i think is sensible. there should be a decennial process. every 10 years, but they should measure whether or not social security still has 7
it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles...
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Nov 28, 2012
11/12
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CSPAN
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they're important for deficits and debt. but the real question is will people's salaries and incomes grow before they pay their taxes? host: on the republican side they argue you have to extend the tax cuts for everybody otherwise small businesses will be hurt. how did small businesses do under president clinton? guest: small businesses did well under president clinton. the dot-com boom and the peace dividend at the end of the cold war, and relatively good economic policies lifted economic growth for everyone. the fact that clinton had higher income taxes and that helped the deficit, that helped quite a bit. but it was overall economy, overwhelmed, the strength of the overall economy overwhelmed the tax policy questions of the 19 0s. host: ok. from nebraska, a democratic caller. caller: hello. are you there? host: we're listening. caller: ok. my question was on the tax increases. the tax increase for the top earners of the country, over $250,000, does this include businesses making $250,000 or is that just two individuals th
they're important for deficits and debt. but the real question is will people's salaries and incomes grow before they pay their taxes? host: on the republican side they argue you have to extend the tax cuts for everybody otherwise small businesses will be hurt. how did small businesses do under president clinton? guest: small businesses did well under president clinton. the dot-com boom and the peace dividend at the end of the cold war, and relatively good economic policies lifted economic...
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Nov 27, 2012
11/12
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it is still about three times the average deficit under bush. let us go back to the clinton tax era. eileen anywhere between republican and libertarian. up -- yes i am not. i lean anywhere between republican and a libertarian. host: what do you make of republicans up on capitol hill -- to sort of a back off the tax pledge that he took when he ran for senate, saying he would not raise taxes. caller: if we are going to raise taxes my important thing is raising them on everybody. because if they try to strike a compromise where only the rich get taxed, then it gets more progressive. it is not a point to help the budget. we are right to raise taxes, raise them all the way down to where clinton had them. host: senators lindsey gramm represented peter king, talking publicly abandoning the pledge of democrats will talk seriously about entitlement reforms. rest in peace, grover norquist? there are not enough republican tax hikes -- republicans to hike taxes for obama. the left is doing its best to make tax hikes appear to be a foregone conclusion. that
it is still about three times the average deficit under bush. let us go back to the clinton tax era. eileen anywhere between republican and libertarian. up -- yes i am not. i lean anywhere between republican and a libertarian. host: what do you make of republicans up on capitol hill -- to sort of a back off the tax pledge that he took when he ran for senate, saying he would not raise taxes. caller: if we are going to raise taxes my important thing is raising them on everybody. because if they...
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Nov 29, 2012
11/12
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deficits that are unsustainable. i hope at the end of this year that -- congress will extend the middle class for 98% of americans, but let the tax cuts on that 2% expire. host: william mcbride, is the payroll tax cut a side issue? guest: it was front and center a year ago. it was debated in stages. we had a two month extension last year at this time. we had a protracted debate that picked up again in february and was extended again for the rest of the year. that was an major push by the president. it is a major deal. it is more than $100 billion a year, the estimate is $125 billion a year. that is more than 10% of the deficit. these are big numbers. it is an unprecedented policy, to start it two years ago and prior to that time -- the first time it was passed it was for one year. it was debated again last year. we did not play around politically with the payroll tax to much. nothing like we did with the income tax. it is rather unprecedented, cuts in to a program that was posted a dedicated to social security -- sup
deficits that are unsustainable. i hope at the end of this year that -- congress will extend the middle class for 98% of americans, but let the tax cuts on that 2% expire. host: william mcbride, is the payroll tax cut a side issue? guest: it was front and center a year ago. it was debated in stages. we had a two month extension last year at this time. we had a protracted debate that picked up again in february and was extended again for the rest of the year. that was an major push by the...
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Nov 26, 2012
11/12
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CSPAN2
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no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325 -- 327 electoral votes, overwhelming. even though they did everything they could to stop him from being reelected. everyone knows what a failure this congress has been because of what the senate has done and that's nothing. nothing. no job creation. they didn't want that. it would -- if -- if we had had some ability to create jobs, it would have helped obama, it would have helped the country. but, no, that wasn't what they wanted to do. and a terrible day for them last year was the -- several months ago, the supreme cour
no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325...
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Nov 28, 2012
11/12
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FBC
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the times buys into the opinion that tax hikes will bring in enough money to plug the deficit. this is the central theme of the liberal elite. you can have all the goodies if you just tax the rich. i beg to differ. raising taxes when california is in virtual recession is not going to bring the economic growth of the state desperately need to. california has 10% unemployment. highest poverty rate in the nation and it is hemorrhaging. middle-class people and jobs. the new york times thinks tax hikes are the answer just like they think tax hikes will fix the next fiscal deficit problem. wrong for california, wrong for america. the state and the nation have a spending problem but both the state and the nation voted to keep spending spree, keep going and both voted to raise taxes. i do not share the times's rosy outlook for california or the united states and that is my take. ♪ ♪ [ enne revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winr event going onow -- but hurry, the offer ends on. stuart: john boehner said he is opti
the times buys into the opinion that tax hikes will bring in enough money to plug the deficit. this is the central theme of the liberal elite. you can have all the goodies if you just tax the rich. i beg to differ. raising taxes when california is in virtual recession is not going to bring the economic growth of the state desperately need to. california has 10% unemployment. highest poverty rate in the nation and it is hemorrhaging. middle-class people and jobs. the new york times thinks tax...
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Nov 28, 2012
11/12
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that's thanks to an oil and gas boon that's wiped out its budget deficit and brought unemployment to the lowest in the nation. >>> all right, coming up, a basketball roundup, and remembering the man who transformed baseball. >>> plus, new york city's iconic empire state building shows off its new high tech lighting. you're watching "early today." >>> here's a look at some of the other stories making news early today in america. a tragedy in new york last night as a commuter bus plowed into a long island home and killed a 6-year-old little boy that was inside. police say the bus had just swerved to avoid a pedestrian and then just lost control. at least 11 bus passengers and the boy's 7-year-old brother were treated for minor injuries. just horrible. >>> the empire state building added flare to the new york city skyline. alicia keys flipped the switch on the inaugural light shows which were synchronized to her songs. the new lighting system displays over 16 million colors with various effects. >>> and, finally, one texas man is using his noggin for a novel idea. hey. the 27-year-old h
that's thanks to an oil and gas boon that's wiped out its budget deficit and brought unemployment to the lowest in the nation. >>> all right, coming up, a basketball roundup, and remembering the man who transformed baseball. >>> plus, new york city's iconic empire state building shows off its new high tech lighting. you're watching "early today." >>> here's a look at some of the other stories making news early today in america. a tragedy in new york last...
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Nov 28, 2012
11/12
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CSPAN2
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we were still running a deficit, a deficit of about $2 billion a year. for fiscal year 2012, which recently ended, total federal revenue was $2.45 trillion, basically back to the pre-recession levels. but total federal spending was above $3.5 trillion. so what happened? well, tax revenues back to where it was before the recession, but federal spending is now $800 billion, almost $1 trillion higher than it was just five years ago, in fiscal year 2007. it's no wonder the federal spending and our national debt will continue to grow for the forseeable future. according to the congressional budget office, mandatory spending, which kpraoeuplss about 6 -- comprises about 60% of total federal spending in fiscal year 2012 is going to continue to grow. if you look at what's driving that, medicare, medicaid, social security. those programs alone represent over 40% of federal spending currently. spending on these programs is projected to grow at an unsustainable rate, and we cannot, madam president, simply raise taxes to pay for all this new spending. that's the pro
we were still running a deficit, a deficit of about $2 billion a year. for fiscal year 2012, which recently ended, total federal revenue was $2.45 trillion, basically back to the pre-recession levels. but total federal spending was above $3.5 trillion. so what happened? well, tax revenues back to where it was before the recession, but federal spending is now $800 billion, almost $1 trillion higher than it was just five years ago, in fiscal year 2007. it's no wonder the federal spending and our...
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Nov 28, 2012
11/12
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and actually it make ours deficit worse system of we need to get this right. i can only do it with the help of the american people. so tweet, what was that again, #my2k. tweet using the hashtag #my2k. post it on a member of congress' facebook wall, email, to what it takes to communicate a sense of urgency. we've got a few weeks to get this thing done. we could get it done tomorrow. now, optimistcally, i don't think we're going to get it done tomorrow. but i tell you if everybody here goes out of their way to make their voices heard and spread the word to your friends and family, co-workers, neighbors, then i am confident we will get it done. and we will put america on the right track, not just for next year but for many years to come. all right? thank you very much, everybody. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> president obama from within the last half-hour. his press spokesman, jay carney is brief regular porters now, you can follow that on c-span.org. word that presid
and actually it make ours deficit worse system of we need to get this right. i can only do it with the help of the american people. so tweet, what was that again, #my2k. tweet using the hashtag #my2k. post it on a member of congress' facebook wall, email, to what it takes to communicate a sense of urgency. we've got a few weeks to get this thing done. we could get it done tomorrow. now, optimistcally, i don't think we're going to get it done tomorrow. but i tell you if everybody here goes out...
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Nov 27, 2012
11/12
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FOXNEWSW
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first of all, let's recognize the fact that we had the deficits right now as a result of obama's budget. that's $5.3 trillion. that's in his budget. he signed that. we have a lot of the programs that should be undone. give you an example, we had a democrat president back in the '90s, bill clinton, while we had a republican majority in the house and the senate. we did welfare reform. we put the work back into welfare and it was tremendously successful. we decreased the welfare rolls. now, obama's reversed that. now we have it's gone up, the food stamp program now gone up from 28 million families to 47 million. that's just one of the things that can be reversed, that got news this mess to start with. >> gretchen: but senator, why does it appear -- and obviously the election was a result of it -- why does it appear that president obama wins the pr campaign on this entire discussion? >> well, gretchen, i represent oklahoma. he hasn't won up there. >> gretchen: but he's winning it acrossment country. >> well, i know, he's a very persuasive person. that doesn't mean that as a member of the un
first of all, let's recognize the fact that we had the deficits right now as a result of obama's budget. that's $5.3 trillion. that's in his budget. he signed that. we have a lot of the programs that should be undone. give you an example, we had a democrat president back in the '90s, bill clinton, while we had a republican majority in the house and the senate. we did welfare reform. we put the work back into welfare and it was tremendously successful. we decreased the welfare rolls. now,...
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Nov 24, 2012
11/12
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CNNW
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the trade deficit with china has displaced more than 2 million jobs. the stdata from a left-leaning think tank. job losses were in computers and electronics. more than a million jobs lost in those industries over the years according epi. other industries hit hard include apparel, accessories and fabricated medals, textiles and furniture and plastics and rub, motor vehicles and parts. some companies are starting to see the economics of making appliances in the u.s. makes sense to their bottom line, that's right. more efficient distribution, better work force oversight. it's turning good business, turning into good business for a company we visited in michigan. this assembly line in canton, michigan, is humming again. it's auto country, but workers like michael cox are building televisions, part of an industry that largely left when manufacturing jobs were outsourced in the 1970s, '80s and '90s. >> lots of things went overseas. nice to see a lot of that stuff come back. a lot of people here need a job and we're willing to do just about anything to work.
the trade deficit with china has displaced more than 2 million jobs. the stdata from a left-leaning think tank. job losses were in computers and electronics. more than a million jobs lost in those industries over the years according epi. other industries hit hard include apparel, accessories and fabricated medals, textiles and furniture and plastics and rub, motor vehicles and parts. some companies are starting to see the economics of making appliances in the u.s. makes sense to their bottom...
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Nov 28, 2012
11/12
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social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a plan to buy 75 years of salt with the rigid of solvency. -- of solvency foug. i might add a wrinkle here. years, a similar commission ought to be creat ed. not get into this mess where we have six months to go with social security. you know how important it is for people. people are devastated by the recession and their pension plans lost. it is important to us, our kids come and grandchildren. i think we should create a commission that will report back to congress before a vote by the end of the next calendar year. i want to talk about the two toughes
social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a...
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79
Nov 27, 2012
11/12
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CSPAN2
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no credible deficit-reduction plan we've seen over the past few years excludes real cuts. and if we want to prevent this crisis, democrats need to be as serious about cutting spending as they are about spending. it's that simple. and by the way this is an approach americans overwhelmingly support. according it a recent a.p. poll, voters prefer spending cuts to tax hikes, 62% to 29%, a more thank two-to-one margin. there is a reason for this. the american people aren't stupid. they know the problem with washington isn't that it taxes too little but that it spends too much. the only reason we're talk about a many looing fisca looming fisw is because the democrats spend the last years creating it. i want to talk about how we got into this mess in the first place because amidst all the talks about plans and proposals, it's easy to forget that we didn't get here by accident. we got here because washington democrats, from the president on down, have done two things exceedingly well over the past four years: spend other people's money and kick the can down the road. spend other p
no credible deficit-reduction plan we've seen over the past few years excludes real cuts. and if we want to prevent this crisis, democrats need to be as serious about cutting spending as they are about spending. it's that simple. and by the way this is an approach americans overwhelmingly support. according it a recent a.p. poll, voters prefer spending cuts to tax hikes, 62% to 29%, a more thank two-to-one margin. there is a reason for this. the american people aren't stupid. they know the...
69
69
Nov 28, 2012
11/12
by
CSPAN2
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we have a path to energy independence in america that is $200 billion deficit right now. it is the bridge to renewable energy, renewable energy will take a long time. if we can move to gas we get tremendous benefits in terms of cleaner energy on the way to renewable energy future. if we could get those things done, steve, this would be transformational for our economy but we have not been able to act on these things even though i said earlier there is wide bipartisan -- >> thank you. let me just try to poke holes in this. if we rollback time to just before the financial crisis you look at the u.s. deposition. douglas holtz-eakin was out there talking about that already. and john mccain and others have been but it is much worse today but if you look at the deck in a different way, look at private sector debt, the fact, forget government debt. before the financial crisis private-sector debt was 160% of gdp in the united states and despite averaging, back to 160% of gdp we are still in crisis mode, you had structural corruption between regulators and financial institutions a
we have a path to energy independence in america that is $200 billion deficit right now. it is the bridge to renewable energy, renewable energy will take a long time. if we can move to gas we get tremendous benefits in terms of cleaner energy on the way to renewable energy future. if we could get those things done, steve, this would be transformational for our economy but we have not been able to act on these things even though i said earlier there is wide bipartisan -- >> thank you. let...
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406
Nov 23, 2012
11/12
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KPIX
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defending champion, a 14-0 deficit. 21-14 late in the game, but lincoln comes back to score the two-point conversion by tyree. 22-21! >> we worked hard from the beginning. all we did, all the fighting, we were torn. and it's great to happen! >> i'm very proud of this team. we've been through ups and downs, injuries all year. i love my team! >> last week, we said, hey, we're gonna eat some turkey. we're gonna be champions. >> who would have won? we would have never did it! >> right. all right. nfl, 49er business. quarterback alex smith practiced today. he reportedly has been medically cleared to play, but the team is denying it. so is it colin kaepernick at center in new orleans? jim harbaugh speaks tomorrow afternoon at niner headquarters. >>> hey, did you hear? it's thanksgiving! right place, right time, in the woodside high school. runs it back for a touchdown. he scored six in the last two games. 49-19. they get the best of the jets. >>> college basketball, cal up. richard solomon. no foul called. he gets teed up. moments later, mike montgomery gets up. bears trailed by as much as eigh
defending champion, a 14-0 deficit. 21-14 late in the game, but lincoln comes back to score the two-point conversion by tyree. 22-21! >> we worked hard from the beginning. all we did, all the fighting, we were torn. and it's great to happen! >> i'm very proud of this team. we've been through ups and downs, injuries all year. i love my team! >> last week, we said, hey, we're gonna eat some turkey. we're gonna be champions. >> who would have won? we would have never did...